CANADA LIFE ASSURANCE Co Has $11.23 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

CANADA LIFE ASSURANCE Co lessened its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 19.8% in the 4th quarter, HoldingsChannel reports. The fund owned 171,018 shares of the biotechnology company’s stock after selling 42,326 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in BioMarin Pharmaceutical were worth $11,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox raised its position in shares of BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after acquiring an additional 847,917 shares during the last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $234,645,000. Geode Capital Management LLC boosted its holdings in BioMarin Pharmaceutical by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company’s stock valued at $215,784,000 after acquiring an additional 28,728 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in BioMarin Pharmaceutical by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company’s stock worth $93,567,000 after purchasing an additional 21,880 shares during the period. 98.71% of the stock is owned by institutional investors.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BMRN shares. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. StockNews.com lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 17th. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $58.65 on Tuesday. The firm has a market cap of $11.19 billion, a PE ratio of 26.66, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical Inc. has a 12 month low of $52.93 and a 12 month high of $94.85. The company’s fifty day simple moving average is $66.59 and its 200-day simple moving average is $66.16. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Equities research analysts expect that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current fiscal year.

BioMarin Pharmaceutical Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.